Argentina’s next president Milei must tame inflation, turn around economy

News Snapshot:

BUENOS AIRES, Nov 20 (Reuters) - Argentina's libertarian President-elect Javier Milei has won a closely fought election. Now comes the hard part: dealing with economic crises. Inflation is at 143%, net reserves of foreign currency are deep in the red, savers are ditching the peso, and a recession is looming - if not already here. Four in 10 Argentines live in poverty and a sharp peso devaluation is likely. Milei, who is pledging economic shock therapy such as shutting the central bank and dollarization, won a second-round runoff vote on Sunday with some 56% to rival Sergio Massa's 44%. Milei...